Harvard Bioscience Inc (HBIO) Financial Statements
Industry: Laboratory Analytical Instruments
In fiscal 2025, Harvard Bioscience reported revenue of $86.5M, down 8.1% from $94.1M the year before. Net income was -$56.7M (a -65.5% net margin), or -$12.80 per diluted share. Gross margin was 57.7% and operating margin was -56.1%. Operating activities generated $6.7M of cash, leaving $5.5M of free cash flow. At fiscal year end, Harvard Bioscience held $80.1M in total assets against $66.3M in total liabilities, including $8.6M of cash and equivalents.
Open the full interactive Harvard Bioscience financials → Quarterly statements, key ratios, valuation history and price charts.
Harvard Bioscience Key Stats
| Share Price | $8.27 |
|---|---|
| Market Cap | $37.4M |
| Revenue YoY Growth | -8.1% |
| 52-Week Range | $3.80 – $8.56 |
| Shares Outstanding | 4.5 million (basic, 2026 Q2) |
Harvard Bioscience Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $102.1M | $118.9M | $113.3M | $112.2M | $94.1M | $86.5M |
| Cost of Goods Sold | $44.1M | $51.3M | $52.5M | $46.2M | $39.4M | $36.6M |
| Gross Profit | $58.0M | $67.7M | $60.8M | $66.1M | $54.8M | $49.9M |
| Operating Income | $221,000 | $2.1M | -$6.9M | $1.9M | -$6.2M | -$48.6M |
| Pre-Tax Income | -$7.3M | -$140,000 | -$9.2M | -$2.6M | -$11.7M | -$57.4M |
| Income Tax | $518,000 | $148,000 | $337,000 | $859,000 | $740,000 | -$686,000 |
| Net Income | -$7.8M | -$288,000 | -$9.5M | -$3.4M | -$12.4M | -$56.7M |
| Diluted EPS | -$2.00 | -$0.10 | -$2.30 | -$0.80 | -$2.80 | -$12.80 |
Harvard Bioscience Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $20.6M | $23.7M | $20.8M | $22.7M |
| Net Income | -$1.2M | -$2.8M | -$3.4M | -$2.9M |
| Diluted EPS | -$0.30 | -$0.06 | -$0.77 | -$0.64 |
Harvard Bioscience Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.3M | $7.8M | $4.5M | $4.3M | $4.1M | $8.6M |
| Current Assets | $51.7M | $61.6M | $51.1M | $49.0M | $45.1M | $48.2M |
| Total Assets | $156.3M | $162.3M | $145.4M | $137.4M | $126.6M | $80.1M |
| Current Liabilities | $21.1M | $25.3M | $23.2M | $26.5M | $55.0M | $22.0M |
| Total Long-Term Debt | $48.3M | $48.6M | $47.1M | $36.8M | $74.3M | $35.9M |
| Total Liabilities | $79.6M | $78.9M | $73.1M | $64.3M | $63.3M | $66.3M |
| Shareholders' Equity | $76.7M | $83.4M | $72.2M | $73.1M | $63.3M | $13.7M |
Harvard Bioscience Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $9.3M | $1.3M | $1.2M | $14.0M | $1.4M | $6.7M |
| Cash From Investing | -$1.4M | -$1.3M | -$1.6M | -$1.8M | -$1.3M | -$1.9M |
| Cash From Financing | -$8.0M | -$252,000 | -$2.8M | -$12.1M | -$131,000 | -$1.3M |
| Free Cash Flow | $8.2M | $67,000 | -$438,000 | $12.2M | -$1.2M | $5.5M |
Figures from Harvard Bioscience's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Harvard Bioscience financials page for every line item.
Harvard Bioscience Company Profile
| Ticker | HBIO |
|---|---|
| Exchange | Nasdaq |
| Industry | Laboratory Analytical Instruments |
| Headquarters | Holliston, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001123494 |
Frequently Asked Questions
What was Harvard Bioscience's revenue in fiscal 2025?
Harvard Bioscience (HBIO) reported revenue of $86.5M for fiscal 2025.
What is Harvard Bioscience's annual revenue history?
Harvard Bioscience's annual revenue by fiscal year: 2020: $102.1M; 2021: $118.9M; 2022: $113.3M; 2023: $112.2M; 2024: $94.1M; 2025: $86.5M.
What was Harvard Bioscience's net income in fiscal 2025?
Harvard Bioscience reported net income of -$56.7M for fiscal 2025.
What was Harvard Bioscience's earnings per share (EPS) in fiscal 2025?
Harvard Bioscience's diluted EPS was -$12.80 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Harvard Bioscience generate in fiscal 2025?
Harvard Bioscience generated $5.5M of free cash flow in fiscal 2025.
What was Harvard Bioscience's revenue last quarter?
In its most recent reported quarter (2026 Q2), Harvard Bioscience reported revenue of $22.7M.
How much debt does Harvard Bioscience have?
Harvard Bioscience reported $35.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Harvard Bioscience are outstanding?
Harvard Bioscience reported a weighted average of 4.5 million basic shares outstanding in 2026 Q2.
What is Harvard Bioscience's market cap?
Based on its latest closing price, Harvard Bioscience (HBIO) has a market capitalization of about $37.4M.
When does Harvard Bioscience's fiscal year end?
Harvard Bioscience's fiscal year end, as registered with the SEC, is December 31.
Where is Harvard Bioscience headquartered?
Harvard Bioscience lists its business address in Holliston, Massachusetts in its SEC filings.